Madoff

The DOL announced a settlement with Ivy Asset Management, a unit of the Bank of New York Mellon, in which Ivy will pay $210 million to compensate investors who suffered losses in Bernie Madoff’s Ponzi scheme.

An SEC Inspector General report released Tuesday alleged that the agency’s former general counsel, David Becker, benefited personally by participating in matters related to the liquidation proceedings dealing with the Bernie Madoff fraud.

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